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Chancellor says government has 'moral duty' to help young people out of work

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Core Development: Chancellor says government has 'moral duty' to help young people out of work
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Market & Financial Impact: Chancellor John Healey says any cuts to welfare will be done "in a Labour way".
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Actionable Insight: 🏛️ Policy & Macro: Interest rate, inflation, or regulatory changes affecting broad market valuations.

Chancellor John Healey has pledged a reduction in the welfare bill ahead of the next general election, in an interview with BBC Radio 4's Today programme.

His comments come after the Conservatives accused Labour of being "addicted to welfare", while Reform UK said the Budget did not address the "ballooning" benefits bill.

Welfare spending is forecast to rise this year to £353bn - and to £431bn in 2031/32, according to government spending watchdog the Office for Budget Responsibility (OBR).

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Official Publisher Attribution: This report is aggregated from Bloomberg. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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